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Jan 26, 2021 · Context

Council authorizes Drainage Utility System Revenue Bonds, Series 2021 (Ord. 7905), 5-0

On January 26, 2021 the council adopted Ordinance No. 7905, 5-0, authorizing Drainage Utility System Revenue Bonds, Series 2021, one of four debt issues approved that day. The City's financial advisor said the bonds would be sold February 2 and close March 2. The staff memo said the proceeds would pay for improvements and construction of the drainage system and that drainage rate increases effective October 1 of 2018, 2019 and 2020 supported the debt. City financial reports record $9,160,000 issued, maturing through 2041; the schedules of debt list $1,101,603 spent at September 30, 2023, $2,746,095 at September 30, 2024 and all $9,160,000 at September 30, 2025.^[1]^[2]^[3]^[4]^[5]^[6]

Ginger Nelson Elaine Hays Freda Powell Eddy Sauer Howard Smith Laura Storrs

What the sources say

✓ Verified
On January 26, 2021 the council passed Ordinance No. 7905, authorizing "City of Amarillo, Texas, Drainage Utility System Revenue Bonds, Series 2021," on first and final reading, 5-0, on a motion by Councilmember Powell seconded by Councilmember Smith. The minutes record that the bonds would be sold on February 2 and close on March 2. ^[1]
For
5
Against
0
✓ Verified
The staff memo said the proceeds would be used "for improvements and construction of the City's drainage system" and that rate increases approved through the annual budget and effective October 1, 2018, October 1, 2019 and October 1, 2020 supported the issuance of the debt. ^[2]
✓ Verified
The City's FY2025 financial report records $9,160,000 of Drainage Utility System Revenue Bonds, Series 2021, at 2.00-4.00%, maturing through 2041. The schedules of debt list $1,101,603 of the proceeds spent at September 30, 2023, $2,746,095 at September 30, 2024 and $9,160,000 at September 30, 2025, with $7,710,000 of principal outstanding at the last date. The schedules do not name the projects funded. ^[3]^[4]^[5]^[6]
Issued
$9,160,000
Spent 2023
$1,101,603
Spent 2024
$2,746,095
Outstanding 2025
$7,710,000

Sources

1.City Council Regular Meeting minutes, January 26, 2021 — City of Amarillo, Jan 26, 2021 · retrieved Oct 14, 2026primarySubject-authoredScanned signed minutes (8 pages, read as images) from the City's CivicClerk archive (event 769); 'published' set to the meeting date. Items 3N (Ordinance No. 7901), 3O (tax abatement) and 3P (location incentive agreement).
2.City Council Regular Meeting agenda and packet, January 26, 2021 — City of Amarillo, Jan 26, 2021 · retrieved Oct 16, 2026primarySubject-authoredScanned packet (no text layer; memo pages read with OCR). The General Obligation Bonds, Series 2021 memo states: "This bond issue is the final issuance of the authorized $89.5 million to fund streets and the final issuance of the voter approved bonds from the November 8, 2016 election."
3.City of Amarillo Annual Comprehensive Financial Report, fiscal year ended September 30, 2025 — City of Amarillo, Jun 4, 2026 · retrieved Oct 9, 2026primarySubject-authoredNote 13 (long-term obligations) describes each certificate-of-obligation series; Note 29 (subsequent events) records the Series 2026 and 2026A certificates, the Series 2026 PPFCOs and 2026 water-sewer revenue bonds. Issue dates differ in places between Note 13 and the statistical tables.
4.Schedule of Debt, City of Amarillo, September 30, 2023 — City of Amarillo, Mar 1, 2026 · retrieved Oct 16, 2026primarySubject-authoredSchedule as of September 30, 2023; this copy was posted in March 2026 (upload folder). Lists each series with authorized, issued, outstanding, spent and unspent amounts and purpose.
5.Schedule of Debt, City of Amarillo, September 30, 2024 — City of Amarillo, Mar 1, 2026 · retrieved Oct 16, 2026primarySubject-authoredSchedule as of September 30, 2024; this copy was posted in March 2026 (upload folder). Lists each series with authorized, issued, outstanding, spent and unspent amounts and purpose.
6.Schedule of Debt at September 30, 2025 (as required by Section 140.008, Texas Local Government Code) — City of Amarillo, Jul 1, 2026 · retrieved Oct 9, 2026primarySubject-authoredPosted July 2026 (upload folder); lists each series with authorized, issued, outstanding, spent and unspent amounts and purpose.